Guideline Value for Kannan St

Kannan St guideline value

The current guideline value of Kannan St in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Kannan St has changed

The guideline value for Kannan St has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in the 2012 revision, marking a rise of 283%. However, in the 2017 revision, it decreased to Rs 1,541 per sq.ft, reflecting a drop of 33%. The value then increased to Rs 2,300 per sq.ft in 2023, followed by a further increase to Rs 2,530 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 figure, Kannan St has experienced a significant increase of 322%. The changes in guideline value over the years highlight the fluctuations and adjustments made in response to various factors affecting real estate in the area.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kannan St above this median at Rs 2,530 per sq.ft.

• Kannan Avenue: Rs 2,530 per sq.ft (2024)
• Karikalan Street: Rs 2,530 per sq.ft (2024)
• Kaveri Street: Rs 2,200 per sq.ft (2024)
• Kalyan Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Kalyan Nagar 4-th St: Rs 1,100 per sq.ft (2024)
• Kalyan Nagar 3-rd St: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kannan St

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty, charged at 7%, would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total fees together Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kannan St?

Kannan St falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Irumpuliyur

The guideline value is a crucial factor in the registration process of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid additional fees or complications during registration.

Frequently asked questions

What is the current guideline value of Kannan St?

The current guideline value of Kannan St is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 322% over the years.

What is the median guideline value in Irumpuliyur?

The median guideline value for streets in Irumpuliyur is Rs 2,200 per sq.ft, with Kannan St being above this median at Rs 2,530 per sq.ft.

What are the stamp duty rates for properties in Kannan St?

The stamp duty for properties in Kannan St is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kannan St located?

The Sub Registrar Office for Kannan St is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.